SET marries BoC ATMs

Sampath and Bank of Ceylon signed a memorandum of understanding to link their automatic teller machines locallyThe deal will create a combined network of more that 150 machines, which almost doubles the amount of ATMs that customers in each bank, can now access.rn

rnThough customers of banks that use the Cirrus network, part of the MasterCard global system, withdraw money from ATMs of each others banks, the transaction fee can top 100 rupees in some cases.rn

rnBut when the interconnection point is established locally, costs are negligible.rn

rnOfficials say the Sampath – Bank of Ceylon link would be up and running from early next year.rn

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